BTC- Accumulation modeThis week is nothing but reverse bart patterns and scam wicks!
I guess this is the result of decreased liquidity caused by the slowly declining volume during the consolidation phase.
Bitmex is trading below 2 billion volume as of now, yet open interest is on the slow ascending trend. This tells me the accumulation is taking place possibly by big fishes.
In addition, volatility is slowly ticking up as well.
Other signs to pay attention to- CME open interest and volume going up + Backwardation + USDT premium going up
As we all now, low volume is a precursor to the high volatility move... As long as 8.4k is defended, I will continue my buy on the dip mode!
